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Piedmont is one of North America’s leading lithium companies, with four active lithium projects, including a joint venture with Sayona in Quebec, Canada and an off-take deal with Atlantic Lithium in Ghana
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Piedmont has vast technical and geological knowledge in similar geology to that of the Killick pegmatites
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North American Lithium ( 25% Piedmont) successfully restarted production and began delivering commercial shipments of spodumene concentrate in 2023. It is the only major source of new spodumene production expected to come online in North America in the near term. Scheduled Piedmont Offtake Customers are LG Chem & Tesla
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Piedmont is developing lithium hydroxide processing plants in North Carolina and Tennessee
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Sokoman and Benton incorporated Vinland Lithium Inc. (“Vinland“) and its wholly-owned subsidiary Killick Lithium Inc. (“Killick“), into which they transferred the Golden Hope Project
Piedmont Lithium has agreed to pay CAD$2 million for a 19.9% equity interest in Vinland Lithium Inc. with Sokoman Minerals Corp. (40.1%) and Benton Resources Inc. (40.1%). Piedmont also may earn up to a 62.5% equity interest in Killick Lithium Inc., through a staged investment agreement.
Piedmont will also fund ongoing exploration by Sokoman and Benton up to CAD$12 million and make progress payments of Piedmont common shares valued at CAD$10 million. Sokoman and Benton will retain a 2% NSR on the property. Piedmont will be entitled to 100% marketing rights and a right of first refusal on 100% offtake rights to any lithium concentrate produced by the Project on a life-of-mine basis at competitive commercial rates.
Project Summary
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In May 2021, Sokoman Minerals Corp. and Benton Resources Inc. formed a strategic JV partnership (the “Alliance”) on a 50/50 sharing basis, staking a large district-scale project consisting of nearly 3,200 claims (80,000 hectares) accessed by the Burgeo Highway in southwestern Newfoundland.
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Covers extensions of two major structures linked to significant gold prospects and deposits in southern Newfoundland.
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Rock units and structures on the Property are also related to those associated with new orogenic gold discoveries in central Newfoundland, including Sokoman’s 100%-owned Moosehead Gold Project and New Found Gold’s Queensway Project.
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Area is host to at least two significant gold deposits including the past-producing Hope Brook Gold Mine (First Mining – Big Ridge Gold) and the advanced Cape Ray Project (Matador Mining).
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Property covers the NE extension of Hope Brook structure which cuts rock units correlated with rocks further NE in the central Newfoundland Gold Belt.
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Property extremely underexplored, despite known occurrences of gold, the presence of unsourced till, soil, and stream sediment geochemical anomalies (> 5000 ppb Au), and the first-order commonalities and linkages between southern and central Newfoundland.
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Prospecting in 2021 discovered a swarm of lithium-rich pegmatite dykes, the first ever for Newfoundland – surface grab samples returned up to 2.37% Li2O.
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Phase 1 Winter Drilling Program (5 holes – 1,025 m) returned 0.95% Li2O over 8.40 m from 47.8 m to 56.2 m, including 1.76% Li2O over 0.8 m
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Phase 2 Drilling Program (18 holes – 3,073 m) was completed in 2022. Assay results of 13 out of 18 holes returned significant intersections including a 25 m-thick, spodumene-rich dyke, that carries significant grades (5.50 m at 1.16% Li2O) within a wider intersection of 20.82 m averaging 0.60% Li2O from 46.00 m downhole in drill hole GH-22-15
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